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FX.co ★ EUR/USD analysis for 03.06.2020 - Extended run to the upside, watch for buying on the dips with the main target at 1.1400

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Forex Analysis:::2020-03-06T12:28:10

EUR/USD analysis for 03.06.2020 - Extended run to the upside, watch for buying on the dips with the main target at 1.1400

Technical analysis:

EUR/USD analysis for 03.06.2020 - Extended run to the upside, watch for buying on the dips with the main target at 1.1400

EUR has been trading strongly to the upside the we got the breakout of multi pivot resistance at 1.1234, whic is stong sign of the buyers dominance.

Due to strrong momentum tot he upside, I would watch for the buying on the dips using the hourly or 4H time-frarme charts.

Main daily upward targets are set at the price of 1.1402 and 1.1443.

Stochastic oscillator is showing strong bull condition and the overbought zone.

Major resistance is set at 1.1400.

Support level is set at the price of 1.1234

Analyst InstaForex
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